Daily Market Highlights (17.06.2020)

RS2 surges to 3-month high


The MSE Equity Price Index added 0.72% to 4,038.493 points as the gains in five companies including RS2, MIA, HSBC and BOV outweighed the declines in GO and MPC. Trading activity across the equity market amounted to €0.25 million largely on higher volumes transacted in the equity of RS2 and BOV. Download today’s Equity Market Summary.

RS2 Software plc rose by 3.4% to a three-month high of €2.40 on nine deals totalling 31,333 shares. In addition to the recent signing of a major processing outsourcing agreement with one of the largest acquirers in the US for a ten year term with the option to renew, yesterday, F1 Payments (a US fintech company), Cross River Bank (a US commercial banking corporation) and RS2 announced a new partnership aimed at delivering payment processing services throughout North America. F1 Payments will utilise RS2’s global processing platform and will be RS2’s first merchant acquiring processing partner in the US. In this respect, RS2’s CEO in North America, Ms Daniela Mielke, commented that the new agreement is “a big leap forward in the North American marketplace” and “highlights our efforts to transform the complexity of payments into opportunity, innovation and growth across all touchpoints in the payments ecosphere.”

Malta International Airport plc regained the €5.80 level (+1.8%) albeit on just 450 shares. Today, the local media reported that Air Malta will operate flights to 22 destinations for summer 2020.

Also among the large companies, HSBC Bank Malta plc climbed 2.1% higher back to the €0.98 level across 10,000 shares.

Within the same sector, Bank of Valletta plc advanced 1% to the €1.01 level on a total of 95,358 shares.

The other positive performing equity today was BMIT Technologies plc as it advanced by 1.6% to the €0.498 level across 84,627 shares

BMIT’s parent company – GO plc – fell by 2.3% to a new 2020 low of €3.42 on just 3,017 shares. On Monday, GO announced that it will be recommending to the Annual General Meeting (to be held on 28 July) the approval of the payment of a net dividend of €0.10 per share. The dividend will be paid on 30 July to all shareholders as at close of trading on 28 April.

A single deal of 10,000 shares forced the equity of Malta Properties Company plc to retreat by 1.7% to the €0.59 level.

The local media reported today that the Environment and Planning Review Tribunal revoked the permit granted to MIDI plc for the development of the Manoel Island project as a new Environmental Impact Assessment will now have to be presented. The equity remained inactive today.

The RF MGS Index extended yesterday’s drop as it slipped by 0.08% to 1,096.524 points. Prices of all Malta Government Stocks drifted further lower on hopes that economic recovery across the world will continue gaining momentum despite an increase in reported COVID-19 cases in China and the US.